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Another view of the short-run cost structure is that fixed costs are those that must be paid whether the firm produces anything or not. Variable costs are called variable because they enhance or reduce with the level of production. Thus to understand short-run costs, you must first understand production.
if marginal cost descreases then what else is effected by this
Advantages of Division of labour: Division of labour has advantages including the following: Development of Greater Skill by the Worker In division of labour, each
a) Provide a detailed valuation of an equity investment decision in the current economic climate. Your briefing should include: i) A review of the 'top-down' analysis that led
Determinants of Social Demand for Education Certain levels of education like the secondary school and graduate level are considered as having productive value and are attribut
the fours laws of chemical combination
Real and nominal GDP, GNP, and Intrest rates, Stock & flow variables, Disinflation, Inflation rates, unemployement rates, labor force, participation rate, output per person, GDP d
Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
What are the properties of compensared demand function
Suppose the demand curve for a consumer for coffee is: Q = 6 – 2P, where Q represents the number of cups per day and P is the price of coffee per cup. Question: Suppose the
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
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